Deal: Allens has advised specialist renewables manager Octopus Investments Australia on the establishment and first closing of two open-ended renewable energy funds, the Octopus Australia Sustainable Investments Fund (OASIS) and the Octopus Renewable Energy Opportunities Fund (OREO).

Value: N/A

Area: Corporate, projects

Key players: The Allens team was led by partner Penny Nikoloudis, with assistance from senior associates Jamil Diu and Mai Go, associate Jin Pang and lawyer Marc Privitelli.

Deal significance: OASIS and OREO will co-invest in an Australian renewable energy portfolio, across wind, solar and storage projects. The investment platform will finance the entire renewable energy life cycle from development, through construction and into long-term operations.

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“We are extremely proud to have advised Octopus Australia on the launch of OASIS and OREO — an investment platform that will support Australia’s transition to renewable energy and a sustainable future,” the firm said.

“The successful launch of this investment platform reflects the continuing emphasis by institutional investors on ESG and renewable energy assets as an investment class in Australia and globally.”